Legislature(2001 - 2002)

03/26/2001 03:29 PM JUD

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
                                                                                                                                
                  HB 34-RULE AGAINST PERPETUITIES                                                                           
                                                                                                                                
MS. SUE STANCLIFF,  staff to Representative McGuire,  said Mr. Steve                                                            
Greer in  Anchorage was  on teleconference  to answer any  questions                                                            
the committee might have.                                                                                                       
                                                                                                                                
SENATOR  COWDERY said a  memo from Representative  McGuire  answered                                                            
any questions he previously had.                                                                                                
                                                                                                                                
CHAIRMAN  TAYLOR made  the following  comments about  a question  he                                                            
asked during the March 19, 2001 Judiciary meeting:                                                                              
                                                                                                                                
     The question I was asking  was whether or not the attorney                                                                 
     general's  (AG) office or any  other branch of government                                                                  
     was  enforcing the  previous  laws that  we'd passed  that                                                                 
     said  that if you  were going  to go into  this business,                                                                  
     your primary office had  to be within the state of Alaska.                                                                 
      It  was my understanding  that  Key Bank  and others  had                                                                 
     shipped  a significant  amount  of business  out of  state                                                                 
     that  was all being  done through Omaha  and other places                                                                  
     and  that we were not  receiving the  benefit of that.   I                                                                 
     have  talked to  Key Bank  personnel about  that and  they                                                                 
     indicated that they actually  did set up an office in this                                                                 
     state  and I think I may have  been misinformed as to  the                                                                 
     total  amount of business  being done.   I just wanted  to                                                                 
     see if somebody was checking  on it, Lesil [Representative                                                                 
     McGuire]  has  now  checked   on that  with  Banking   and                                                                 
     Securities, unfortunately they don't do that.                                                                              
                                                                                                                                
MS. STANCLIFF  said she had  inquired with  the AG's office  and had                                                            
not received  a response yet.   The response  was expected in  a few                                                            
days and she would forward it on to the committee.                                                                              
                                                                                                                                
SENATOR  COWDERY   moved  HB  34  from  committee  with   individual                                                            
recommendations.  There being no objection, the motion carried.                                                                 

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